Advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries are driving the growth of the spinal implants and surgery devices market. However, the high cost of spinal surgery and uncertainties surrounding reimbursement are expected to restrain the growth of this market during the forecast period.

Based on technology, the spinal implants and surgery devices market is segmented into spinal fusion and fixation, vertebral compression fracture treatment, motion preservation/non-fusion, and spinal decompression technologies. The spinal fusion and fixation technologies segment accounted for the largest share of the market in 2019. This can be attributed to the rising incidence of target diseases with the rising geriatric population across the globe, growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures.

Based on the type of surgery, the spinal implants and surgery devices market is segmented into open and minimally invasive surgeries. The open surgeries segment accounted for the largest share of the spinal implants and surgery devices market in 2019. The large share of this segment can be attributed to the increasing preference for open spine surgeries among medical professionals, rising incidence of spinal deformities, and technological advancements in spinal fusion surgeries.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage in several APAC countries.